Analysts Set Cathay General Bancorp (NASDAQ:CATY) PT at $50.80

Cathay General Bancorp (NASDAQ:CATY) has earned an average recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $50.80.

A number of research analysts have commented on CATY shares. Keefe, Bruyette & Woods lowered their price target on Cathay General Bancorp from $56.00 to $55.00 and set a “market perform” rating for the company in a research report on Thursday, January 23rd. Piper Sandler decreased their target price on Cathay General Bancorp from $45.00 to $43.00 and set an “underweight” rating for the company in a research report on Monday, January 27th. Finally, Stephens decreased their target price on Cathay General Bancorp from $60.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd.

Cathay General Bancorp Trading Up 1.8 %

CATY opened at $46.95 on Friday. The business has a 50 day simple moving average of $47.19 and a two-hundred day simple moving average of $46.57. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 11.86 and a beta of 1.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.03 and a quick ratio of 1.03. Cathay General Bancorp has a one year low of $33.88 and a one year high of $55.29.

Cathay General Bancorp (NASDAQ:CATY) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Cathay General Bancorp had a return on equity of 10.70% and a net margin of 20.57%. Analysts predict that Cathay General Bancorp will post 4.47 EPS for the current year.

Cathay General Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Thursday, February 27th will be paid a $0.34 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.36 annualized dividend and a dividend yield of 2.90%. Cathay General Bancorp’s payout ratio is currently 34.34%.

Institutional Trading of Cathay General Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors grew its stake in shares of Cathay General Bancorp by 1.0% in the 4th quarter. Captrust Financial Advisors now owns 23,486 shares of the bank’s stock worth $1,118,000 after buying an additional 222 shares during the last quarter. CWM LLC grew its stake in shares of Cathay General Bancorp by 19.9% in the 3rd quarter. CWM LLC now owns 1,517 shares of the bank’s stock worth $65,000 after buying an additional 252 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Cathay General Bancorp by 0.8% in the 4th quarter. Cetera Investment Advisers now owns 31,770 shares of the bank’s stock worth $1,513,000 after buying an additional 255 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Cathay General Bancorp by 63.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 850 shares of the bank’s stock worth $40,000 after buying an additional 330 shares during the last quarter. Finally, Bank of Montreal Can grew its stake in shares of Cathay General Bancorp by 4.1% in the 4th quarter. Bank of Montreal Can now owns 9,961 shares of the bank’s stock worth $474,000 after buying an additional 394 shares during the last quarter. Hedge funds and other institutional investors own 75.01% of the company’s stock.

About Cathay General Bancorp

Cathay General Bancorp operates as the holding company for Cathay Bank that offers various commercial banking products and services to individuals, professionals, and small to medium-sized businesses in the United States. The company offers various deposit products, including passbook accounts, checking accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and public funds deposits.